Centerspace (NYSE:CSR) Stock Gets Price Target Trim from Wells Fargo & Company

Centerspace (NYSE:CSR) had its price objective cut by Wells Fargo & Company from $57.00 to $53.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on CSR. Compass Point upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and raised their target price for the stock from $64.50 to $80.00 in a report on Wednesday, September 9th. Royal Bank Of Canada lowered their price target on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler dropped their price target on shares of Centerspace from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.50.

Centerspace Stock Up 0.1%

Shares of NYSE:CSR opened at $56.17 on Monday. The stock’s 50-day moving average price is $55.01 and its 200-day moving average price is $58.57. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The stock has a market capitalization of $944.85 million, a P/E ratio of 44.58 and a beta of 0.84. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities analysts anticipate that Centerspace will post 4.67 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th were given a dividend of $0.77 per share. The ex-dividend date was Tuesday, September 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.5%. Centerspace’s payout ratio is currently 244.44%.

Institutional Investors Weigh In On Centerspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacific Heights Asset Management LLC bought a new stake in shares of Centerspace in the 2nd quarter worth approximately $16,857,000. Bank of New York Mellon Corp purchased a new stake in shares of Centerspace in the 2nd quarter worth approximately $7,190,000. Legal & General Group Plc purchased a new stake in shares of Centerspace in the 2nd quarter worth approximately $5,386,000. BlackRock Inc. bought a new position in Centerspace during the 2nd quarter valued at approximately $167,912,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Centerspace during the second quarter valued at $7,009,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

About Centerspace

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.